India is set to import the most crude from Saudi Arabia in more than six years this month, as the South Asian nation faces sustained US pressure to reduce purchases of Russian barrels. Shipments from Saudi Arabia are set to rise to 1 million to 1.1 million barrels a day, the highest since November 2019, […]
Arabian Drilling has secured three land rig contract extensions in Saudi Arabia worth USD 373 million, extending its backlog by 25 rig years, the company announced on Tuesday. Of the rigs subject to extensions, one is currently operational, and another is projected to begin operations by the end of January 2026. A third is currently under […]
GAS Arabian Services has signed agreements worth USD 17.5 million to acquire stakes held by Afaq Al Mustaqbal in EagleBurgmann Saudi Arabia (EBKSA) and TCR Arabia (TCR), Gas Arabian Services said in a Saudi Exchange filing on Tuesday.
The transaction agreement covers the acquisition of all issued and outstanding shares of Shelf Drilling and was approved with 99.6% of votes cast in favour.
Saudi Arabia’s grand Vision 2030 ambitions may be colliding with a colder fiscal reality. Fitch Ratings warned Friday that Riyadh faces rising financial risks as oil prices soften and government spending balloons, threatening the kingdom’s plans for fiscal consolidation.
Perma-Pipe International Holdings Inc. said it had received technical and commercial approval from Saudi Arabian Oil Co. (Aramco) allowing it to expand its business opportunities in the kingdom through a direct pathway to the oil and gas sector.
Saudi Arabia has once again reduced the price of crude oil it sells to Asia, with the premium for the flagship Arab Light at $2.20 a barrel over the Dubai/Oman benchmark for cargos to be delivered in October.
OPEC+ leader Saudi Arabia wants the group to consider reviving more oil production ahead of its scheduled return at the end of next year amid a push to reclaim market share, people familiar with the matter said.
In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.
“With this transaction, we reinforce our position as a market leader in shallow-water offshore drilling, offering superior services to our client base alongside enhanced scale, asset quality and operational reach,’ said ADES CEO Mohamed Farouk. “The transaction is supported by Shelf Drilling’s USD 1.5 billion firm backlog and provides access to key regions with solid growth prospects.”